Gaining Momentum: Kenya’s new Constitution is giving investors much cause for optimism

Kenya’s march toward a middle-income economy within the next two decades got a much-needed boost with the promulgation of the country’s new Constitution on August 27, 2010. The brand-new legal regime should firmly close the door on 47 years of bad governance and pave the way for long-term growth in East Africa’s largest economy.

Since independence in 1963, Kenya, the regional hub for trade and finance has been struggling in its quest to achieve socio-economic stability. There have been many occasions – the most recent being the bloody political crisis after the 2007 General Election – when Kenya’s stability threatened to derail. But always, somehow, the country was salvaged and the show moved on, to an extent that now, with a new Constitution, even the politicians and business leaders agree on one thing – it’s time to prosper.

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